Solve the following system of equations:

x = 60 + 4y
7x + 12y = 500

Substitute the first equation into the second equation for x:

7(60 + 4y) + 12y = 500

Distribute the 7:
420 + 28y + 12y = 500

Combine like terms:
40y = 80

Divide by 40:
y = 2

Substitute y = 2 into the first equation for y:
x = 60 + 4(2) = 68

Therefore, the solution to the system of equations is (x,y) = (68,2).